Cardano Chang hard fork to redefine decentralized governance from Sept. 1 News ▸ Cardano ▸ Technology
Cardano Chang hard fork to redefine decentralized governance from Sept. 1
Cardano prepares for major decentralization milestone with the Chang upgrade.
2 min read
Updated: Aug. 29, 2024 at 6:38 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Intersect, a Cardano membership organization, announced that the highly anticipated Chang hard fork will occur on Sept. 1, according to an Aug. 29 statement shared with CryptoSlate.
Intersect highlighted that the Chang hard fork is a revolutionary step for the ecosystem, marking the final phase of the network’s decentralization process, Voltaire.
Intersect director Jack Briggs emphasized that the upgrade is the culmination of two years of collaborative efforts involving thousands of people who have participated in workshops, committees, and governance testing on the SanchoNet testnet.
Briggs added:
“The upgrades [will] enhance Cardano’s decentralization, marking a new frontier for the blockchain and all its participants. The upgrades will introduce minimum-viable-on-chain decision-making to all ada holders.
First upgrade
The hard fork includes two upgrades. The first upgrade initiates the technical bootstrapping process, which has been ongoing for the past 10 weeks and involves the hard fork working group.
The group has been reviewing progress, ensuring desired thresholds, and preparing the ecosystem for the hard fork. They have raised necessary governance actions and signed off on the hard fork, which will be the last of its kind before ADA holders take control.
Notably, the transaction to trigger Chang #1 upgrade on the Cardano mainnet was submitted a few hours ago. Nicolas Serny, a governance lead at the Cardano Foundation, stated:
“This milestone officially ushers us into the Conway era, beginning in epoch 507 on September 1, 2024, at 21:45 UTC.”
Second upgrade
Three months from now, Cardano will enter the #2 Chang upgrade with approval from the Interim Constitutional Committee (ICC) and Stake Pool Operators (SPOs). This phase will transition the network from its technical bootstrapping stage to active participation.
The upgrade will activate advanced governance features, including decentralized representatives (DReps) and governance tools for broader participation. These enhancements will fully transition Cardano to a community-driven decision-making model.
Once Chang #1 is complete, DReps can register on the mainnet and gather delegations in anticipation of Chang #2.
Dan Gambardello, a Cardano enthusiast, described this phase as a paradigm shift in blockchain governance. He stated:
“With such a governance model, Cardano could very well redefine what it means to be a leading blockchain, potentially attracting more developers, users, and investors. No longer will Cardano be seen as yet another project run by some large organization; it will be a community-driven powerhouse.”
Posted In: Cardano, Technology
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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